Money 2020 Europe 2023
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Money20/20 Europe 2023: Day One TFT Roundup

Money20/20 Europe marked its 2023 return to RAI, Amsterdam on Tuesday with the promise of eight stages, 300-plus speakers, 200 sessions and 8,000 people from almost 90 countries across three days. Plus a 12-foot robot, gondolas at a money beach club, cocktails and plenty of doughnuts thrown in for good measure.

The theme for this year’s event is ‘now and next’ with Tracey Davies, president of Money20/20, and Scarlett Sieber, chief strategy and growth officer of Money20/20, explaining why in their opening speech.

“It might not sound very grand but it holds the keys to unlocking the secrets of our show,” said Davies.

While Sieber added: “The ecosystem of money is huge and we need to cover so so much, so we have ways of making it simple for you. We’re all about simplicity.”

Money 2020 Europe 2023
Scarlet (left) and Tracey (right)

So what did we see and hear on day one?

‘Must be more action’

Supermodel turned actress and entrepreneur Lily Cole chatted to Davies about the importance of working together to help solve problems.

“People have the power to make a change by choosing who they work for or with, voting for what they want, and building pressure to change policy. Everyone needs to rise to the challenge, embrace innovation and help solve problems. There must be more action and not just words.”

“We shouldn’t be hypocrites; we all need to work together and do better. Be honest and upfront, share learnings, and create an open dialogue. The role of technology is essential, but we need to be careful not to think that technology will solve everything, it’s not the silver bullet.”

“Frenzied’ migration for SVB

HSBC president Ian Stuart outlined what’s been happening since the UK government and the Bank of England brokered a rescue deal allowing HSBC to acquire SVB’s UK business in March.

“All action now is to migrate SVB of the US systems and bring it back into the UK system,” he said. “We’ve got a very limited time period to do that, so it’s been quite frenzied to try and get that done in a logical way and we’ve got to take 3000 customers with us who are obviously going to have to go through that change at the same time.

“We’re not quite there yet and have got another few weeks to go. But so far, so good and a lot of people have helped us get there which has been most helpful.”


Meeting the Money-Bot

In a session on the Money-Bot stage, panellists in the ‘Removing the Fluff of ‘Personalisation’ in Banking’ session discussed key strategies for optimising customer experience. While the 12-foot Money Bot dished out industry predictions.

Amalia Avramov, president of financial software company Amdocs, said: “There’s a lot of noise about personalisation, it’s overused. But it’s all about getting the best for you with the least complexity possible. That’s what today analytics and processes can bring looking at the data. Providing different experiences that are the right things for the right customer and right persona.

While Katie Pagenkopf, head of customer experience strategy at projekt202, added: “Customers tell me they expect personalisation to be used to acknowledge their loyalty as a long term customer – rewarding the loyalty of customer will make personalisation less about fluff.”

Bot Money 2020
Scam-tastic debate

Over on the Fusion stage, experts unpicked the challenge faced by financial institutions, regulators and solution providers to rethink the interaction between access, friction and protection

On the evolution of scams, Ambreen Khasru, a compliance advisor, warned: “As remittances moved onto smart phones, so did the scams. Everything that has becomes digital has become a target. Scams become more sophisticated and hard to detect- anything is cash related and digital related or anything allows a fraudster or a scammer to have access to people’s details is at risk.”

Fusion Stage

Gina Clarke, Europe content director at Money20/200, had a great chat on algorithmic bias with Dr. Rumman Chowdhury, previously the director of META (ML Ethics, Transparency, and Accountability) at social network, Twitter.

Fascinating to hear how “very tangible” algorithmic discrimination is in lending with Chowdhury giving the example of ‘digital redlining in Chicago.

“The name redlining comes from the fact that there would be a giant map on the wall and they would draw red lines through all of the districts that were primarily African American and not give them loans. So then fast forward a few decades later, and you are developing algorithms to determine the risk events of different districts and individuals. And while you may not include the data point of someone’s race, it is implicitly picked up.

“What was happening around Chicago was this concept of digital redlining, where you could literally draw a map of where loans were denied based on historically we’re loans were denied.”

Money 2020

Other highlights we enjoyed:

Helen Child, founder of Open Banking Excellence (OBE), moderated a discussion on five years of open banking before also chairing a conversation on ‘Unlocking the Potential of Financial Data to Improve Financial Inclusion”.

Joanne Dewar, ambassador for The Payments Association, discussing the importance of inclusion in a panel called ‘Accessible Payments: A Better Banking Experience for All’. She highlighted how even small decisions can make a huge impact.

Oh and so much more…. but it’s on to Day Two!


  • Claire is an experienced editor and writer with 25 years of experience in the publishing industry. As a tech journalist, Claire has covered every subject possible over the years, from the launch of broadband and next generation mobile networks to the arrival of the metaverse and Web3.

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